Cree, Inc. (NASDAQ:CREE) has a beta value of 1.49 and has seen 1,678,345 shares traded in the recent trading session. The company, currently valued at $10.78 Billion, closed the recent trade at $92.05 per share which meant it lost -$5.02 on the day or -5.17% during that session. The CREE stock price is -41.12% off its 52-week high price of $129.9 and 62.88% above the 52-week low of $34.17. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.49 Million shares traded. The 3-month trading volume is 1.89 Million shares.
The consensus among analysts is that Cree, Inc. (CREE) is a Hold stock at the moment, with a recommendation rating of 2.6. 2 analysts rate the stock as a Sell, while none rate it as Overweight. 9 out of 16 have rated it as a Hold, with 5 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is -$0.24.
Cree, Inc. (NASDAQ:CREE) trade information
Despite being -5.17% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Wednesday, Apr 28 when the CREE stock price touched $116.03 or saw a rise of 20.84%. Year-to-date, Cree, Inc. shares have moved -13.27%, while the 5-day performance has seen it change -21.25%. Over the past 30 days, the shares of Cree, Inc. (NASDAQ:CREE) have changed -20.29%. Short interest in the company has seen 11.32 Million shares shorted with days to cover at 5.99.
Wall Street analysts have a consensus price target for the stock at $117.5, which means that the shares’ value could jump 27.65% from the levels at last check today. The projected low price target is $80 while the price target rests at a high of $150. In that case, then, we find that the latest price level in today’s session is +62.95% off the targeted high while a plunge would see the stock lose -13.09% from the levels at last check today.
Cree, Inc. (CREE) estimates and forecasts
Figures show that Cree, Inc. shares have underperformed across the wider relevant industry. The company’s shares have gained +53.57% over the past 6 months, with this year growth rate of -91.11%, compared to -6.9% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are -33.3% and -15.8% for the next quarter. Revenue growth from the last financial year stood is estimated to be -30.7%.
11 analysts offering their estimates for the company have set an average revenue estimate of $145.16 Million for the current quarter. 9 have an estimated revenue figure of $154.29 Million for the next quarter concluding in September 01, 2021. Year-ago sales stood $205.7 Million for this quarter, and analysts expect sales will grow by -29.4% for the current quarter.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -25.4% over the past 5 years. Earnings growth for 2021 is a modest -217.7%.
Cree, Inc. (NASDAQ:CREE)’s Major holders
Insiders own 0.46% of the company shares, while shares held by institutions stand at 105.82% with a share float percentage of 106.31%. Investors are also buoyed by the number of investors in a company, with Cree, Inc. having a total of 552 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 14.07 Million shares worth more than $1.49 Billion. As of December 30, 2020, Blackrock Inc. held 12.19% of shares outstanding.
The other major institutional holder is Capital Research Global Investors, with the holding of over 13.52 Million shares as of December 30, 2020. The firm’s total holdings are worth over $1.43 Billion and represent 11.71% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Smallcap World Fund and Growth Fund Of America Inc. As of December 30, 2020, the former fund manager holds about 4.74% shares in the company for having 5472938 shares of worth $579.58 Million while later fund manager owns 4.09 Million shares of worth $442.32 Million as of March 30, 2021, which makes it owner of about 3.54% of company’s outstanding stock.